Because decisions made by the State Legislature impact not only your livelihood, but your customer’s access to mortgage money as well. We, as TMBA members, have a responsibility to protect not only our businesses, but an availability of competitive mortgage money to consumers. By being a TMBA member and a part of the TMBA Advocacy efforts, you have the opportunity to get involved and speak up!
The TMBA has been successful in blocking legislation that could have created additional burdensome regulation on accessing affordable home loans and that could have affected a 1st lien priority position. Examples of previously successful legislation include:
- Preserving the Texas Department of Savings and Mortgage Lending as an independent agency within the Finance Commission to oversee the mortgage industry and state chartered thrifts.
- Supported legislation repealing antiquated code prohibiting home equity loans for agricultural property owners.
- Supported legislation allowing county clerks to permit recording of a paper printout of an electronic documents in the real property records expanding the ability to have electronic closings in the 180 Texas counties that do not have electronic document recording capability.
- Supported legislation amending the Texas SAFE Act to mirror federal act changes granting temporary authority to originate to a registered residential mortgage loan originator moving to a non-depository lender and to an out of state licensed residential mortgage loan originator.
- Prevented multiple efforts to impose additional requirements on mortgage loan servicers.
- Prevented legislation that would have elevated a subcontractor’s lien ahead of a mortgage lien and another proposal that would have prohibited a lender from enforcing a deed of trust if the borrower had claimed age or veteran deferrals for property taxes.